US gasoline and diesel price movements: Week ending 1 December 2014

Gasoline

The US average price of regular gasoline was US$ 2.78/gal. as of 1 December 2014, down four cents from the previous week and 49 cents lower than the same time last year.

The Rocky Mountains price decline seven cents to US$ 2.86/gal., and the Gulf Coast price was down six cents to US$ 2.53/gal. The Midwest price decreased five cents to US$ 2.71/gal. The East Coast and West Coast prices each declined three cents, to US$ 2.82/gal. and US$ 3.02/gal., respectively.

Diesel

The US average diesel fuel price declined two cents from the prior week to US$ 3.61/gal., 28 cents less than the same time last year.

The Midwest price decline four cents to US$ 3.70/gal. The West Coast price decreased three cents to US$ 3.69/gal. The Gulf Coast, East Coast and Rocky Mountain prices decreased one cent, to US$ 3.50/gal., US$ 3.51/gal., and US$ 3.73/gal., respectively.

Propane

US propane stocks increased by 0.2 million bbls last week to 79.4 million bbls as of 28 November 2014, 25.1 million bbls (46.3%) higher than a year ago.

Midwest inventories increased by 0.2 million bbls and Gulf Coast inventories by 0.1 million bbls. East Coast inventories decreased by 0.1 million bbls while Rocky Mountain/West Coast inventories remained unchanged.

Propylene non-fuel use accounted for 3.8% of total propane inventories.

Residential propane averaged nearly US$ 2.41/gal., almost 1 cent/gal. higher than last week, and approximately 16 cents per gal. less than the same time last year. The average wholesale propane price increased by less than 1 cent this week and remained at 93 cents/gal., 47 cents/gal. lower than the 2 December 2013 price.

Residential heating oil

As of 1 December 2014, residential heating oil prices averaged nearly US$ 3.33/gal., almost 4 cents/gal. lower than last week, and 59 cents less than last year’s price for the same week. Wholesale heating oil prices averaged US$ 2.50/gal., almost 8 cents/gal. lower than last week and 65 cents lower when compared to the same time last year.